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Apr 3, 2013
04/13
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. >> john harwood has been following the developments today and for the past weeks in washington and he is here now with the very latest. hi, john. what have you got? >> this is an interesting balancing act by u.s. officials and on the one hand we're trying to not let north korean threats and provocations go unresponded to, but they're also trying not to overreact and give the indication that they regard these threats as reflective of imminent conflict or anything of that kind. jake carney, the white house secretary said on air force one said the president was flying out west for fund raising and gun control, ven events and thia pattern of north korean officialsing to obtain the provocative language and that we have the new young north korean leader you have a temperature tagz for him to try to prove his toughness and prove his worthiness to lead that country, but the administration also can't ignore the things that he's saying. the reports that i've seen indicate that the missile defense battery will be operational within about two weeks, but i don't think the united states official
. >> john harwood has been following the developments today and for the past weeks in washington and he is here now with the very latest. hi, john. what have you got? >> this is an interesting balancing act by u.s. officials and on the one hand we're trying to not let north korean threats and provocations go unresponded to, but they're also trying not to overreact and give the indication that they regard these threats as reflective of imminent conflict or anything of that kind. jake...
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Apr 4, 2013
04/13
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hampton pearson has more now from washington. >> reporter: the lines at unemployment offices across the country got a little longer last week. jobless claims increased by 28,000. that's the third straight weekly hike. and the new seasonally adjusted average of 385,000 has not been this high since the end of november. unemployment claims are often a proxy for future layfs. a closely watched rept from challenger gray and christmas shows employers announced just over 49,000 job cuts last month, down 11% from february, but 30% higher than a year ago. >> certainly it means there is volatility out there, and there are certain sectors of the economy that seem to be taking the hit harder than others. >> reporter: earlier this week, there was also disappointing news about private sector job growth. businesses only added 158,000 jobs last month. according to the closely watched survey from payroll processor adp, far sho of economists' expectatns for nearly 200,000 new jobs. last month, the labor department told us payrolls increased by 236,000, and the unemployment rate fell to 7.7%. but this wee
hampton pearson has more now from washington. >> reporter: the lines at unemployment offices across the country got a little longer last week. jobless claims increased by 28,000. that's the third straight weekly hike. and the new seasonally adjusted average of 385,000 has not been this high since the end of november. unemployment claims are often a proxy for future layfs. a closely watched rept from challenger gray and christmas shows employers announced just over 49,000 job cuts last...
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Apr 23, 2013
04/13
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we are in washington with more of the very controversial legislation. so, who is behind this move on collecting more sales tax? >> well, it's a good question. it's something the retail industry has wanted to do for more than a decade, make sure that internet vendors collect sales tax for products sold online. the united states senate is taking up a bill that would allow states to collect sales taxes from us of state companies. >> there's some items where consumers are price sensitive and online retailers that do not collect sales taxes can under ku cut can the brick and mortar retailer by 10% because of the situation. >> that ends up for big money for hard hit state budgets. >> state loses $103 million last year alone. that is a pretty big chunk of our budget. that sounds silly to california, on the other hand, california loses about $4 billion plus. >> amazon the nation's leading online retailer supports the bill, preferring the simplicity of one national standard but e bay and others are criticizing the bill saying that mom and pop retailers are not e
we are in washington with more of the very controversial legislation. so, who is behind this move on collecting more sales tax? >> well, it's a good question. it's something the retail industry has wanted to do for more than a decade, make sure that internet vendors collect sales tax for products sold online. the united states senate is taking up a bill that would allow states to collect sales taxes from us of state companies. >> there's some items where consumers are price...
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Apr 16, 2013
04/13
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they maintained a heavy security presence today in washington, d.c., not a lot of visible security, the normal police presence is out and about here in washington, but the folks we talked to here today said it was an important day to come out the and they were not going to be afraid. >> it's pretty safe place to be at this point. >> how did it feel today? >> i feel pretty safe. i do. >> 151st signing of the emancipation proclamation. and it was scary, but it was an important gesture to come out and support it. >> these spectators were determined to come out and show they were not afraid. even though the republican representatives said that security has laxed. >> we are newly reminded that serious threats to our way of life remain. >> securing the big events that america loves is expensive. whether it's in times square or new orleans. the nfl spent $6 million on security for the super bowl and obama's inauguration came with a $124 million security price tag and there's no guarantee that it will always work. >> my sense is, for something like this, you could not possibly have frisked ever
they maintained a heavy security presence today in washington, d.c., not a lot of visible security, the normal police presence is out and about here in washington, but the folks we talked to here today said it was an important day to come out the and they were not going to be afraid. >> it's pretty safe place to be at this point. >> how did it feel today? >> i feel pretty safe. i do. >> 151st signing of the emancipation proclamation. and it was scary, but it was an...
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Apr 18, 2013
04/13
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you know, obviously, with everything that's going on in washington, everything is on the table. and with each one that comes out, there's a proposal that there would be a 28% cap on deductions so no one would be lower than the 28% tax bracket. that means you couldn't have all tax-free income that would put you in no tax bracket. in essence, that would be a tax on municipal bonds. mayors and governors are fighting this very, very aggressively. and each time they seem to get it out of the budget proposal and then a new budget proposal comes out and it's back in. i do believe that ultimately, state and local governments will be success chl in arguing that this will drive the economy right back into the recession and actually won't solve the greater purpose of helping the economy. >> always good to see you, you young whipper snapper you. >> you, too. don't look a day older. >>. >> and coming up a little later in the program, one media company to watch this earnings season. first, let's look at how the international markets closed today. >>> we begin our market focus with earnings af
you know, obviously, with everything that's going on in washington, everything is on the table. and with each one that comes out, there's a proposal that there would be a 28% cap on deductions so no one would be lower than the 28% tax bracket. that means you couldn't have all tax-free income that would put you in no tax bracket. in essence, that would be a tax on municipal bonds. mayors and governors are fighting this very, very aggressively. and each time they seem to get it out of the budget...
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Apr 10, 2013
04/13
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these are the 5 cent franklin stamps and 10 cent washington stamps. there was a 10 cent washington stamp postmarked from canada that could fetch more than $30,000. bill and sue gross will donate all the proceeds from the sale to doctors without borders and mill lineal villages. >> they are beautiful to look at. his mother got him started in all of this. the stamp collecting. none of her stamps were really worth that much. my son was collecting stamps and i tossed them out with the baseball cards at one point. >> i guess it proves that bill gross, it translates from bonds to having an eye for value. >> the gifted investor. >> terrific investor and a good guy. >> thanks so much for watching. >> thanks for joining us. have a great evening and we hope to see you right back here tomorrowing night.
these are the 5 cent franklin stamps and 10 cent washington stamps. there was a 10 cent washington stamp postmarked from canada that could fetch more than $30,000. bill and sue gross will donate all the proceeds from the sale to doctors without borders and mill lineal villages. >> they are beautiful to look at. his mother got him started in all of this. the stamp collecting. none of her stamps were really worth that much. my son was collecting stamps and i tossed them out with the...
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Apr 5, 2013
04/13
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john harwood joins us from washington now with more. tell us about what the president is likely to propose. >> reporter: what he's doing, tyler, is embodying the last offer he made to house speaker boehner when they were negotiating around the fiscal cliff in december into his formal budget proposal. so for example, the so-called chain cpi for social security is in his proposal. that will reduce future payments and because of the effect on tax brackets cause some people's ta taxes to go up to some degree. this is a president saying, see, i'm willing to compromise and all the flak he's getting only serves to underscore his argument. he's hoping to convince them to come to the table. >> will republicans go along with the idea that there's a revenue raise here as a result that people -- they'll be moved in the higher tax brackets? >> interestingly, republicans have said no more tax increases, but this is one set of tax increases they do support. this is a republican proposal which they pushed during the fiscal cliff talks. the question is
john harwood joins us from washington now with more. tell us about what the president is likely to propose. >> reporter: what he's doing, tyler, is embodying the last offer he made to house speaker boehner when they were negotiating around the fiscal cliff in december into his formal budget proposal. so for example, the so-called chain cpi for social security is in his proposal. that will reduce future payments and because of the effect on tax brackets cause some people's ta taxes to go...
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Apr 5, 2013
04/13
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for "nightly business report," i'm hampton pearson, in washington. >> well, what happens with the economy will shape what is next for stocks. joining us to talk about what we can expect, bruce kazman, and bob doll. gentlemen, welcome to you both. bruce, let me begin with you in asking you about the economy. you say you're a half glass full kind of guy on this topic. but what do you say to the critics who say that the economy is slowing down there. is some bad data coming, and this isn't going to be good for the stock market? >> well, i think we came into the year with a real surprise to the upside. there were some temporary lifts to growth. consumers proved more resilient than the face of tax increases. the first quarter is tracking about 3.5% growth. i don't think 3.5% is where the underlying trend. i think we've got some slowing. we've got the sequestration drag in. the second quarter is going to be slowing. but i think when we look through it, we're going to feel the economy is growing 2.5% in the face of a fiscal drag. and we're going to look at this economy and say this is pretty sol
for "nightly business report," i'm hampton pearson, in washington. >> well, what happens with the economy will shape what is next for stocks. joining us to talk about what we can expect, bruce kazman, and bob doll. gentlemen, welcome to you both. bruce, let me begin with you in asking you about the economy. you say you're a half glass full kind of guy on this topic. but what do you say to the critics who say that the economy is slowing down there. is some bad data coming, and...
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Apr 30, 2013
04/13
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for "nightly business report," i'm diana olick in washington. >> diana was talking to a gentleman that was saying you don't know you're in a bubble until you're out of it. and anecdotally, we hear so many stories in this area at least of people going to see a house and then it goes into an auction phase. so you get this feeling that there is a craze. >> things in my town are selling the day they come on the market. >> exactly. >> the weekend they come on the market. >> exactly. >> but it's a good sign. it indicates to me that people are feeling more secure in their jobs and incomes and credit is more available, but not to the same extent it was back in '06 and '07 when we had the so-called liar loans that were so prevalent. >>> to market focus now and pfizer, which reported lower than expected profits and trimmed its outlook for the rest of the year. pfizerer blamed the bump in the road on poor sales over in europe and the strong yen lowering sales in japan. pfizer occupied the dow basement all day long, losing 4.5%. >>> investors cheered best buy's decision to sell its stake in a euro
for "nightly business report," i'm diana olick in washington. >> diana was talking to a gentleman that was saying you don't know you're in a bubble until you're out of it. and anecdotally, we hear so many stories in this area at least of people going to see a house and then it goes into an auction phase. so you get this feeling that there is a craze. >> things in my town are selling the day they come on the market. >> exactly. >> the weekend they come on the...
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Apr 29, 2013
04/13
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for "nightly business report" i'm hampton pearson in washington. >>> a short while ago i talked with vanguard. joe davis says there is a quote, striking disconnect between how the economy is doing and those new record highs in the stock market. >> there is clearly a disconnect between where jobs are today and where the stock market is. and i would ascribe some of that disconnect both to the effectiveness, quite frankly, of monetary policy in helping to estimate investor risk-taking. at the same time i think there's also a disconnect that the u.s. economy could be stronger in its recovery, and part of that is due to an uncertainty tax, if you will. >> what we saw in the wall street journal today, that vanguard ceo wrote this op-ed piece, saying that uncertainty is the enemy of the recovery. let's flip it around. if we didn't haveuncertainty, how much growth, how much better off would we be? >> sure, we actually tried to estimate that very question. the answer to that question. what we found is that just since the early part of 2011, over the past two years, had policy uncertainty not
for "nightly business report" i'm hampton pearson in washington. >>> a short while ago i talked with vanguard. joe davis says there is a quote, striking disconnect between how the economy is doing and those new record highs in the stock market. >> there is clearly a disconnect between where jobs are today and where the stock market is. and i would ascribe some of that disconnect both to the effectiveness, quite frankly, of monetary policy in helping to estimate investor...
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Apr 15, 2013
04/13
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some of the hot bed areas, los angeles, san francisco, houston, atlanta and washington, d.c. and some of the top small businesses that raise red flags are construction companies, real estate rental firms because they tend to write off so much. so, there's so much going on there, that we have to keep an eye on those tax cheats. >> first, you got to file your taxes. >> and hurry up. you'veot until midnight. thanks for watching. >> i'm bill griffin. have a great evening. we'll see you tomorrow.
some of the hot bed areas, los angeles, san francisco, houston, atlanta and washington, d.c. and some of the top small businesses that raise red flags are construction companies, real estate rental firms because they tend to write off so much. so, there's so much going on there, that we have to keep an eye on those tax cheats. >> first, you got to file your taxes. >> and hurry up. you'veot until midnight. thanks for watching. >> i'm bill griffin. have a great evening. we'll...
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Apr 13, 2013
04/13
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courtney reagan keeps tabs on the buys habits of consumers, she is at the state supreme court house in washington. she has been -- courtney we will get to the trial in a moment, first, it's to get your take on what terry lund gren said, do you think that couple econsume think that couple e consumers a buying mode? >> i think it depends on the consumer and the store. it's not a very easy answer. we heard earnings from family dollar earlier this week. there's some concern about that consumer. the lower income consumer. of course, if you are one of the folks that is looking for a job and has been unable to find one, you are likely to be in the camp that is spending a little less. we got those retail sales numbers today from from the government. dispoinappointing and if you lot the details, it's the discretionary spendsing that is taking the hits. department stores down 1.1%, and general merchandise, down 1.2%. i think consumers have gotten smarter. they spend when they feel confident. and those consumer confidence numbers also hitting nine month lows. >> absolutely. well, you know, a lot of what hav
courtney reagan keeps tabs on the buys habits of consumers, she is at the state supreme court house in washington. she has been -- courtney we will get to the trial in a moment, first, it's to get your take on what terry lund gren said, do you think that couple econsume think that couple e consumers a buying mode? >> i think it depends on the consumer and the store. it's not a very easy answer. we heard earnings from family dollar earlier this week. there's some concern about that...
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Apr 26, 2013
04/13
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the pressure is on washington to find a fix. >> job security. americans feel safer in their jobs now, why? and which industries are putting out the help wanted sign. >>> whether you'll pay more -- >>> more people making gripes about sequestration is finally sinking in. >> congress is hearing it from their constituents. there was an afternoon swoon in the markets. we have more on that in a minute. our top story. travelers are frustrated, airlines are angry, and some members of congress appear to have had enough. we're talking about the federal spending cuts that kicked in about a month ago. the sequester, that's starting to be felt by the traveling public so far. wait until the cut backs start to hit food safety inspection and long term employment, unemployment benefits and more. john harwood joins us with more on how lawmakers are looking to ease some of this pain. how are the negotiations proceeding, john? >> members of congress have been buffeted by the complaints about air traffic delays, republicans and democrats alike, even if they expected
the pressure is on washington to find a fix. >> job security. americans feel safer in their jobs now, why? and which industries are putting out the help wanted sign. >>> whether you'll pay more -- >>> more people making gripes about sequestration is finally sinking in. >> congress is hearing it from their constituents. there was an afternoon swoon in the markets. we have more on that in a minute. our top story. travelers are frustrated, airlines are angry, and some...
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Apr 3, 2013
04/13
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they're shrugging off uncertainty in washington. they're shrugging off higher payroll taxes. what do you think account for this incredible resiliency of the american consumer? >> i think it's a couple of things, susie. you know, one of the things to keep in mind is that fuel economy has improved in really every vehicle segment across the board, particularly in the last couple of years. so when you a vehicle that is 11 years old, you're probably getting 12 or 13, maybe 14 miles per gallon. when you go and look at some of these new products that are out there and you can get 20, 25, and 30 miles per gallon in your pickup truck or crossover, you got to factor that in when you're look at the total cost of this new car and say i can save a lot of money on gas. so i think that the consumer is doing the right thing, which is to look at the total cost of ownership and say it's time to buy a new car. i can't keep repairing my existing car. and by the way, i can cut my gas prices in half, even though gas prices are high. >> are bigger cars and trucks doing better than smaller cars? >>
they're shrugging off uncertainty in washington. they're shrugging off higher payroll taxes. what do you think account for this incredible resiliency of the american consumer? >> i think it's a couple of things, susie. you know, one of the things to keep in mind is that fuel economy has improved in really every vehicle segment across the board, particularly in the last couple of years. so when you a vehicle that is 11 years old, you're probably getting 12 or 13, maybe 14 miles per gallon....